Q: I'm making a personal loan to my brother for divorce, car, etc. I have and continue to provide financial help to him
He barely meets living expenses so I'll not be repaid in monthly payments. He owns a home and has life insurance. He offered to list me as beneficiary on his life insurance or should we use his home? (he has adequate equity) What kind of legal document/letter do I need to ensure repayment to me or my family in even I am deceased before him?
A: A written loan document giving you security in all that he owns and filing that in the records department of your court should do it. Naming you as a beneficiary of his life insurance will do it if the life insurance stays in full force.
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